Permanent Account Number

All about PAN-AADHAR linking: Post 31st March 2022

Income Tax - If PAN is not linked with Aadhaar by March 31, 2023, then next year starting April 1, 2023, your PAN will become inoperative. Once your PAN becomes inoperative, your will not be able to file income tax return, open bank account, invest in mutual funds etc....

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Linking of AAdhar with PAN on e filing portal

Income Tax - Requirement to link aadhar with PAN: As per sec 139AA of income tax act, 1961, every person who has been allotted PAN as on the 1st day of July, 2017 and who is eligible to obtain an Aadhaar number have compulsorily link their aadhar and PAN before the due date i.e. 31.03.2022 by giving his […]...

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Permanent Account Number (PAN)

Income Tax - In this article we have covered Meaning of Permanent Account Number (PAN), Its Utility,Procedure to Obtain PAN, Transaction in Which PAN is Mandatory,How to correct any mistake in PAN card or intimate any change in data pertaining to PAN...

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How to link Aadhaar and PAN on Income Tax Website

Income Tax - How to link Aadhaar and PAN on Income Tax Website – FAQs Q1 Who needs to link Aadhaar and PAN? Section 139AA of the Income Tax Act provides that every person who has been allotted a permanent account number (PAN) as on the 1st day of July, 2017, and who is eligible to obtain an […]...

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What is Permanent Account N​umber (PAN) & What is TAN?

Income Tax - You must have heard about PAN & TAN but got confused – What is it and are they really different ?? Come… lets see that ahead. WHAT IS PERMANENT ACCOUNT NUMBER -PAN is a 10-digit unique identification alphanumeric number assigned, mostly to those who pay tax on their incomes -It is governed by Department of […]...

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No Question of relaxing PAN-Aadhaar linking NORMS: Govt

Income Tax - Question of Government issuing any direction to CBDT to relax the PAN-Aadhaar linking norms does not arise....

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Know your Aadhaar Link Status and Link Your PAN with Aadhaar

Income Tax - Information :As per CBDT circular F.No. 370142/14/22-TPL dated on 30th March 2022, every person who has been allotted a PAN as on 1st July 2017 and is eligible to obtain Aadhaar number is required to link PAN with AADHAAR on or before 31st March, 2022. Taxpayers who failed to do so are liable to pay […]...

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CBDT prescribes fees for not linking PAN with Aadhaar

Income Tax - Taxpayers who have not linked their PAN with Aadhaar will be required to pay a fee of Rs. 500 up to three months from 1st April, 2022 and a fee of Rs.1000 after that, while intimating their Aadhaar. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 30th […]...

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43.34 crore PANs linked with Aadhaar till 24.01.2022

Income Tax - More than 43.34 crore Permanent Account Numbers (PANs) linked with Aadhaar till 24.01.2022 As on 24-01-2022, the total number of Permanent Account Numbers (PANs) linked with Aadhaar is 43,34,75,209. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha today. The Ministe...

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LIC IPO: Policyholders asked to update PAN

Income Tax - In order to participate in any such public offering by LIC, policyholders will need to ensure that their PAN details are updated in the Corporation's records. Further, subscribing to any public offering in India is only possible if you have a valid DEMAT account —accordingly, policyholders should ensure that they have an active DEMAT ac...

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Disallowance unsustainable in absence of proper verification of evidences submitted

Ajaipal Mangal & Co. Vs ACIT (ITAT Mumbai) - ITAT Mumbai held that assessee duly furnished details like PAN, sub-contract amount and details of TDS justifying payment to sub-contractors. Merely disallowing 10% of sub-contract expense without verifying the veracity of assessee’s claim based on the evidences produced is unsustainable in law....

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HC quashes Assessment Order passed under Old Surrendered PAN

Shakuntala Sales Incorporation Vs ACIT (Calcutta High Court) - Return was filed under the new PAN and in spite of that, assessing officer passed assessment order under old PAN - HC Quashed such order...

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Two PAN Card Allotment: ITAT directs Cancellation of One & Allows Tax Credit

Tardevi Jyoti Kumar Bubna Vs DCIT (ITAT Mumbai) - PAN of assessee should be cancelled by Income Tax department and credit for advance tax and TDS should be granted to assessee as per law....

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No Section 271F penalty when Assessee having 2 PAN filed return under anyone PAN

Sudhi Jain Vs ITO (ITAT Cuttack) - Sudhi Jain Vs ITO (ITAT Cuttack) Assessee has filed her return of income at one place i.e. at Kolkata under her PAN A****2218B and the transactions done under PAN A****6846F are also duly reported and disclosed in the said return of income. No doubt has been shown by the revenue authorities on this ...

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TDS not deductible on freight charges if PAN of Company provided for its proprietary concern

DCIT Vs Vinod Chimanlal Modi (ITAT Ahmedabad) - DCIT Vs Vinod Chimanlal Modi (ITAT Ahmedabad) It is observed that sufficient documentary evidence was placed on record by the assessee before the learned CIT(A) to establish that M/s. S.S. Enterprises is a proprietary concern of M/s. Gunesh India Pvt. Ltd. and on the basis of the same, a finding was...

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CBDT relaxes quoting of PAN-Aadhaar No. in certain transactions

Notification No. 105/2022 - Income Tax [G.S.R. 677(E).] - (01/09/2022) - CBDT relaxes quoting of PAN-Aadhaar No. in certain transactions vide Notification No. 105/2022 -Income Tax | Dated: 1st September, 2022. MINISTRY OF FINANCE (Department of Revenue) (Central Board of Taxes) New Delhi Notification No. 105/2022 -Income Tax | Dated: 1st September, 2022 G.S.R. 677(E)....

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Framework for restricting trading by DPs by freezing PAN

SEBI/HO/ISD/ISD-SEC-4/P/CIR/2022/107 - (05/08/2022) - SEBI issues Framework for restricting trading by Designated Persons (DPs)  by freezing PAN at security level...

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Procedure of PAN application & allotment through Form FiLLiP for LLPs

Notification 04 of 2022-Income-tax (DGIT) - (26/07/2022) - Procedure of PAN application & allotment through Simplified Proforma for incorporating Limited Liability Partnerships (LLPs) electronically {Form: FiLLiP} of Ministry of Corporate Affairs F. No. DGIT(S)/ADG(S)-1/FiLLiP form for LLP/2022-23/ Government of India Ministry of Finance Central Board o...

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Non linking of PAN with Aadhaar | Rule 114AAA | Inoperative PAN – Clarification

Circular No. 7/2022-Income Tax - (30/03/2022) - in case of failure to intimate the Aadhaar Number by the last extended notified date i.e. 31.03.2022, the PAN allotted to the person shall be made inoperative in accordance with provisions of Income Tax Act....

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Consequences of Not-Linking PAN with Aadhaar applicable from 01.04.2023

F.No.370142/14/2022-lPL - (30/03/2022) - CBDT vide its order Notifies 1st day of April, 2023, as the specified date for the purpose of the proviso to sub-rule (2) of rule 114AAA of the Income-tax Rules, 1962. As per this proviso Where a person, whose permanent account number (PAN) has become inoperative due to non linking with Aadhaar unde...

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Recent Posts in "Permanent Account Number"

Disallowance unsustainable in absence of proper verification of evidences submitted

Ajaipal Mangal & Co. Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that assessee duly furnished details like PAN, sub-contract amount and details of TDS justifying payment to sub-contractors. Merely disallowing 10% of sub-contract expense without verifying the veracity of assessee’s claim based on the evidences produced is unsustainable in law....

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CBDT relaxes quoting of PAN-Aadhaar No. in certain transactions

Notification No. 105/2022 - Income Tax [G.S.R. 677(E).] 01/09/2022

CBDT relaxes quoting of PAN-Aadhaar No. in certain transactions vide Notification No. 105/2022 -Income Tax | Dated: 1st September, 2022. MINISTRY OF FINANCE (Department of Revenue) (Central Board of Taxes) New Delhi Notification No. 105/2022 -Income Tax | Dated: 1st September, 2022 G.S.R. 677(E).—In exercise of the powers conferred by ...

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HC quashes Assessment Order passed under Old Surrendered PAN

Shakuntala Sales Incorporation Vs ACIT (Calcutta High Court)

Return was filed under the new PAN and in spite of that, assessing officer passed assessment order under old PAN - HC Quashed such order...

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How To Update Your Name on PAN Card

PAN card or Permanent Account Number is a unique ten-digit alphanumeric number issued by NSDL in India. It is used for various tax purposes while filing as identity proof and serves as valid identity proof for multiple other processes. How To Update Details on Your PAN Card: If you have any changes in detail printed […]...

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Posted Under: Income Tax

Framework for restricting trading by DPs by freezing PAN

SEBI/HO/ISD/ISD-SEC-4/P/CIR/2022/107 05/08/2022

SEBI issues Framework for restricting trading by Designated Persons (DPs)  by freezing PAN at security level...

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Two PAN Card Allotment: ITAT directs Cancellation of One & Allows Tax Credit

Tardevi Jyoti Kumar Bubna Vs DCIT (ITAT Mumbai)

PAN of assessee should be cancelled by Income Tax department and credit for advance tax and TDS should be granted to assessee as per law....

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No Question of relaxing PAN-Aadhaar linking NORMS: Govt

Question of Government issuing any direction to CBDT to relax the PAN-Aadhaar linking norms does not arise....

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Posted Under: Income Tax |

No Section 271F penalty when Assessee having 2 PAN filed return under anyone PAN

Sudhi Jain Vs ITO (ITAT Cuttack)

Sudhi Jain Vs ITO (ITAT Cuttack) Assessee has filed her return of income at one place i.e. at Kolkata under her PAN A****2218B and the transactions done under PAN A****6846F are also duly reported and disclosed in the said return of income. No doubt has been shown by the revenue authorities on this contention of […]...

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Procedure of PAN application & allotment through Form FiLLiP for LLPs

Notification 04 of 2022-Income-tax (DGIT) 26/07/2022

Procedure of PAN application & allotment through Simplified Proforma for incorporating Limited Liability Partnerships (LLPs) electronically {Form: FiLLiP} of Ministry of Corporate Affairs F. No. DGIT(S)/ADG(S)-1/FiLLiP form for LLP/2022-23/ Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax...

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TDS not deductible on freight charges if PAN of Company provided for its proprietary concern

DCIT Vs Vinod Chimanlal Modi (ITAT Ahmedabad)

DCIT Vs Vinod Chimanlal Modi (ITAT Ahmedabad) It is observed that sufficient documentary evidence was placed on record by the assessee before the learned CIT(A) to establish that M/s. S.S. Enterprises is a proprietary concern of M/s. Gunesh India Pvt. Ltd. and on the basis of the same, a finding was recorded by the leaned […]...

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